Apple’s (AAPL) “Outperform” Rating Reaffirmed at FBR & Co

Apple Inc. (NASDAQ:AAPL)‘s stock had its “outperform” rating reissued by FBR & Co in a note issued to investors on Tuesday. They currently have a $155.00 price target on the iPhone maker’s stock. FBR & Co’s price objective would indicate a potential upside of 10.02% from the stock’s previous close.

Several other research analysts have also recently weighed in on AAPL. Sanford C. Bernstein reissued an “outperform” rating and set a $135.00 price objective on shares of Apple in a report on Sunday, December 4th. Instinet reissued a “buy” rating and set a $135.00 price objective on shares of Apple in a report on Monday, December 5th. Nomura reissued a “buy” rating and set a $135.00 price objective on shares of Apple in a report on Tuesday, December 6th. Pacific Crest reissued an “overweight” rating and set a $127.00 price objective (down from $129.00) on shares of Apple in a report on Tuesday, December 6th. Finally, Credit Suisse Group AG reissued an “outperform” rating and set a $150.00 price objective on shares of Apple in a report on Wednesday, December 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $142.89.

Analyst Recommendations for Apple (NASDAQ:AAPL)

Apple (NASDAQ:AAPL) opened at 140.88 on Tuesday. The firm has a 50-day moving average of $137.51 and a 200 day moving average of $120.52. Apple has a one year low of $89.47 and a one year high of $142.80. The company has a market capitalization of $739.13 billion, a P/E ratio of 16.91 and a beta of 1.26.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, January 31st. The iPhone maker reported $3.36 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.14. Apple had a net margin of 20.73% and a return on equity of 34.94%. The firm earned $78.35 billion during the quarter, compared to analysts’ expectations of $77.37 billion. During the same period in the previous year, the company earned $3.28 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities analysts forecast that Apple will post $8.94 EPS for the current fiscal year.

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In other news, insider Luca Maestri sold 2,300 shares of the business’s stock in a transaction dated Wednesday, December 28th. The shares were sold at an average price of $117.67, for a total transaction of $270,641.00. Following the transaction, the insider now owns 4,632 shares of the company’s stock, valued at approximately $545,047.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 2,649 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $128.05, for a total transaction of $339,204.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 403,844 shares of company stock worth $51,434,527. Corporate insiders own 0.08% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Apple during the fourth quarter valued at $5,625,709,000. Asset Management One Co. Ltd. boosted its position in Apple by 966.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 9,457,769 shares of the iPhone maker’s stock worth $1,096,072,000 after buying an additional 8,571,027 shares during the last quarter. State Street Corp boosted its position in Apple by 2.0% in the fourth quarter. State Street Corp now owns 219,739,579 shares of the iPhone maker’s stock worth $25,450,260,000 after buying an additional 4,301,005 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in Apple by 11,079.6% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 3,750,405 shares of the iPhone maker’s stock worth $3,751,000 after buying an additional 3,716,858 shares during the last quarter. Finally, Glenview Capital Management LLC bought a new position in Apple during the fourth quarter worth approximately $365,191,000. 58.76% of the stock is currently owned by hedge funds and other institutional investors.

About Apple

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

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